#193 Dave Collins & Jake Yocom-Piatt: Decred — A Hybrid Approach to Blockchain Governance

Dave Collins and Jake Yocom-Piatt join us to talk about Decred, a cryptocurrency which introduces an innovative system of community-based governance into its blockchain. Decred implements a hybrid Proof of Work and Proof of Stake system in which miners validate transactions, while users can vote on new features and upgrades to the protocol. This clever approach enables efficient blockchain governance, which has demonstrated to be successful in a recent protocol upgrade on the live network. Topics discussed in this episode:Dave and Jake’s respective backgrounds in the blockchain spaceThe challenges addressed by Decred, specifically regarding blockchain governanceDecred’s hybrid Proof of Work/Proof of Stake approach to governanceHow users of the network vote on protocol upgrade with “”tickets””Possible downfalls and attack vectors to this approachHow Decred’s governance model successfully implemented a hard fork on the production networkDecred’s approach to development fundingLinks ment
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